Filing Flows › Dream Finders Homes (DFH) › Q3 2025
Dream Finders Homes (DFH) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 30, 2025
Dream Finders Homes (DFH) reported revenue of $970M for the third quarter 2025 (Q3 2025), -4% from a year earlier and -16% from the quarter before. Operating margin was 6.3%, net earnings $47.1M (4.9% of revenue).
Dream Finders Homes, Q3 2025: revenue $970M (-4% year over year), operating margin 6.3%, net earnings $47.1M, operating cash flow −$131M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $970M | -16% | -4% |
| Operating profit | $60.8M | -18% | -34% |
| Net earnings | $47.1M | -17% | -34% |
| Operating cash flow | −$131M | — | — |
What changed
Revenue was $969.8M in Q3 2025, down 4% year over year and down 16% from the previous quarter. Homebuilding was the largest line at 95% of revenue. Homebuilding lost $69.6M year over year (down 7%), 190% of the total change.
Operating profit was $60.8M, a 6.3% margin (down 2.9 points year over year). Total costs fell 1% while revenue fell 4%. Net earnings were $47.0M, down 33% year over year. The effective tax rate was 22.5%.
Operating cash flow was −$131.0M. Non-cash charges added back $3.7M of depreciation and amortization and $5.3M of share-based compensation. Working capital and other items used $187.0M. Capital expenditures of $4.7M exceeded it, leaving free cash flow of −$135.7M.
Questions
What was Dream Finders Homes' revenue in the third quarter 2025?
Dream Finders Homes (DFH) reported revenue of $970M for the third quarter 2025 (Q3 2025), -4% from a year earlier and -16% from the quarter before.
Was Dream Finders Homes profitable in the third quarter 2025?
Operating profit was $60.8M (6.3% of revenue) and net earnings $47.1M.